The four weak banks that were forced to be transferred include: Ocean Commercial Joint Stock Bank - OceanBank (now renamed Vietnam Modern Commercial Joint Stock Bank - MBV), Vietnam Construction Commercial Joint Stock Bank (CB), Global Petroleum Commercial Joint Stock Bank (GPBank) and DongA Commercial Joint Stock Bank (DongA Bank).

Among them, MBV and CB were transferred to MB and Vietcombank respectively from October 17, 2024, while GPBank and DongA Bank are expected to be compulsorily transferred this week to VPBank and HDBank .

Comparing the interest rates at the 4 banks mentioned above, it can be seen that each bank has a certain attractiveness in terms of interest rates for certain terms.

In particular, GPBank, although paying lower short-term deposit interest rates than the other 3 banks, has the highest bank interest rates for long terms.

After a long time leading the market in long-term deposit interest rates, MBV has now reduced to the same level as the other 3 banks. However, MBV not only leads the group of 4 banks that have been forced to transfer but also leads the entire market in savings interest rates for terms under 6 months.

Meanwhile, DongA Bank also shows its willingness to pay interest rates for terms under 6 months at a relatively attractive level in the current market.

The common point of the above 4 banks is that they are all listing savings interest rates from 6%/year or higher for long-term deposits.

According to GPBank 's online interest rate table, the current 1-month term interest rate is 3.5%/year, 2-month term is 4%/year, 3-month term is 4.02%/year, 4-month term is 4.04%/year and 5-month term has an interest rate of 4.05%/year.

GPBank's 6-month term interest rate is listed at 5.35%/year, 7-month term at 5.45%/year, 8-month term at 5.6%/year, and 9-month term at 5.7%/year.

GPBank is showing its superiority in 12-month deposit interest rates when it is paying depositors interest rates of up to 6.05%/year, thereby becoming one of four banks (along with CB) paying deposit interest rates from 6%/year for 12-month terms.

The highest interest rate at GPBank is listed at 6.15%/year, applied to online deposits with terms of 13-36 months.

At MBV , online deposit interest rates for 1-2 month terms are 4.3-4.4%/year respectively. Bank interest rates for 3-month terms are up to 4.6%/year, and for 4-5 month terms, the highest is 4.7%/year.

MBV pays interest rates of 5.5%/year for online deposits with terms of 6-8 months, 5.6%/year for terms of 9 months, 5.7%/year for terms of 10-11 months, and 5.8%/year for terms of 12-15 months.

The highest savings interest rate announced by MBV is 6.1%/year, for individual customers with 18-36 month term deposits. The interest rates for these terms are also applied to savings at the counter.

INTEREST RATE TABLE ON JANUARY 13, 2025 AT 4 MANDATORY TRANSFER BANKS (%/YEAR)
TERM GPBANK MBV CB DONGA BANK
1 month 3.5% 4.3% 4.15% 4.1%
3 months 4.02% 4.6% 4.35% 4.3%
5 months 4.05% 4.7% 4.35% 4.3%
6 months 5.35% 5.5% 5.85% 5.55%
9 months 5.7% 5.6% 5.8% 5.7%
12 months 6.05% 5.8% 6.0% 5.8%
18 - 36 months 6.15% 6.1% 6.0% 6.1%

6.1%/year is also the interest rate for deposits with terms from 18-36 months at DongA Bank . In addition, this bank also pays interest rates up to 6%/year for deposits with terms of 13 months.

Notably, DongA Bank also offers a "special interest rate" of up to 7.5%/year for customers who deposit savings for a 13-month term with an amount of VND 200 billion or more.

In the remaining terms, DongA Bank only shows its superiority when the interest rate for 1-2 month term is 4.1%/year.

The interest rate for 3-5 month term is 4.3%/year, 6-8 month term is 5.55%/year, 9-11 month term is 5.7%/year and 12 month term is 5.8%/year.

The remaining bank among the four banks subject to compulsory transfer is CB . In general, this bank has attractive long-term deposit interest rates, but compared to the other three banks, the interest rates issued by CB are slightly higher for terms from 6-11 months.

According to the CB's online deposit interest rate table, the deposit interest rate for a 1-2 month term is 4.5%/year, for a 3-5 month term is 4.35%/year, for a 6 month term the interest rate is up to 5.85%/year, and for a 7-11 month term the interest rate is 5.8%/year.

The highest online deposit interest rate at CB is 6%/year, applied to individual customer deposits with terms from 12-36 months.

According to statistics from the beginning of January 2025 to now, 7 banks have increased their deposit interest rates, including: Agribank , Bac A Bank, NCB, MBV, Eximbank, KienlongBank, VietBank. However, NCB and Agribank also simultaneously reduced interest rates for terms of 12-36 months. Also reducing interest rates are ABBank, SeABank, Nam A Bank, Techcombank.
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